Legal Disclaimers & Disclosures These materials are provided solely for the
information of the Special Committee of the Board of Directors (the “Special Committee”) of Via Renewables, Inc. (the “Company”) by B. Riley Securities, Inc. (“B. Riley”) in connection with the Special Committee’s consideration of a potential
transaction (the “Proposed Transaction”) involving the Company. These materials are for discussion purposes only and may not be relied upon by any security holder of the Company or any other party or person for any purpose whatsoever. These
materials were prepared for a specific use by specific persons familiar with the business and affairs of the Company and were not prepared with a view to public disclosure or to conform with any disclosure standards under securities laws or
otherwise. Accordingly, none of the Special Committee, the Company, B. Riley or their respective advisors take any responsibility for the use of these materials by persons other than the Special Committee. These materials are provided on a
confidential basis solely for the information of the Special Committee and may not be disclosed to or shar ed with others, in whole or in part, or summarized or otherwise referred to, except as agreed to in writing by B. Riley. These materials
necessarily are based on financial, economic, market and other conditions as in effect on, and the information made available to us as of, the date of these materials. B. Riley undertakes no obligation to update, revise or reaffirm these
materials. These materials do not constitute any opinion. B. Riley’s only opinion is the opinion, if any, that is actually delivered to the Special Committee. These materials are not intended to provide the sole basis for evaluation of the
Proposed Transaction, and do not purport to contain all information that may be required. The analyses contained in these materials must be considered as a whole. Selecting portions of the analyses, without considering all analyses, together with
the accompanying footnotes and discussion, could create an incomplete view. Individual analyses of value contained in the analyses are not appraisals and are not necessarily indicative of actual value, which may be significantly more or less
favorable than as indicated by such analyses. In preparing these materials, B. Riley has not conducted any physical inspection or independent appraisal or evaluation of any of the assets, properties or liabilities (contingent or otherwise) of the
Company or any other participant in the Proposed Transaction, nor was B. Riley provided with any such appraisal or evaluation. B. Riley has assumed and relied upon the accuracy and completeness of the financial and other information obtained
from management of the Company, other parties to the Proposed Transaction, their respective advisors and public sources without assuming any responsibility for independent verification of such information, makes no representation or warranty
(express or implied) in respect of the accuracy or completeness of such information and has further relied upon the assurances of the Company that it is not aware of any facts or circumstances that would make such information inaccurate or
misleading. To the extent such information includes estimates, projections and forecasts of future financial performance prepared by or reviewed or discussed with management of the Company or other parties to the Proposed Transaction, or obtained
from public sources, we have assumed that such estimates, projections and forecasts have been reasonably prepared in good faith on bases reflecting the best currently available estimates, projections and judgments of such management (or, with
respect to estimates and forecasts obtained from public sources, represent reasonable estimates). B. Riley takes no responsibility for such estimates, projections or forecasts or the assumptions on which they are based. B. Riley role in reviewing
any information was limited solely to performing such a review as it shall deem necessary to support its own analysis and opinion and not on behalf of the Special Committee, the Company or any other person. In addition, we have relied upon and
assumed, without independent verification, that the final forms of the draft documents reviewed by us will not differ in any material respect from such draft documents.
